Highland Beach, Maryland Property Taxes
The median property tax rate in Highland Beach, MD is 1.21%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Highland Beach at $421,100, the typical annual property tax bill reaches $4,816, exceeding the national median of $2,690. Property taxes in Highland Beach are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Highland Beach's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Highland Beach or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Highland Beach, Maryland Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$2,120
Ownwell’s Highland Beach Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers an easy way to estimate their annual property taxes in Highland Beach using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Highland Beach to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value is determined by Anne Arundel County for tax calculations, considering any applicable exemptions.
Property Tax Rates Across Highland Beach, Maryland
Property taxes in Highland Beach, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Highland Beach is 1.21%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Highland Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Highland Beach estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Highland Beach's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21403 zip code has the highest median property tax rate of 1.21%, while the 21403 zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Highland Beach provides valuable insights into the varying tax landscape across Anne Arundel County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Highland Beach Tax Rate
1.21%
Average Anne Arundel County Tax Rate
0.97%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Highland Beach, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21403 | 0.89% | 1.21% | 1.21% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Highland Beach, Maryland
In Highland Beach, Maryland, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Anne Arundel County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Highland Beach, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the median home price in this area is $421,100, with tax bills ranging from $4,238 at the 25th percentile to $7,456 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 21403, standing at $4,816. Being aware of these valuation processes in Highland Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Highland Beach, Maryland
Source: Ownwell
$224,750
$1,053,975
$1,883,200
Average Highland Beach Assessed Value
$421,100
Average Anne Arundel County Assessed Value
$376,600
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Highland Beach, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21403 | $317,120 | $360,900 | $421,100 | $514,200 | $704,360 |
Source: Ownwell
Property Tax Bills Across Highland Beach, Maryland
In Highland Beach, property tax bills are calculated based on the assessed value of the home, which is determined by the Anne Arundel County tax assessor. The assessed value is typically a percentage of the market value of the property. For instance, with a median home price of $421,100, homeowners can expect their tax bill to vary significantly. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. The tax bill can range widely, with the 25th percentile paying around $4,238 and the 75th percentile facing a bill of approximately $5,955. For those in the 90th percentile, the tax bill can be as high as $7,456. Compared to the national median property tax rate of 0.99%, Highland Beach's tax rates reflect the region's property values and local fiscal policies. Higher property taxes can impact homeowners by increasing the overall cost of owning a home, affecting monthly budgets and long-term financial planning.
Average Highland Beach Tax Bill
$4,816
Average Anne Arundel County Tax Bill
$3,553
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Highland Beach, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21403 | $3,708 | $4,238 | $4,816 | $5,955 | $7,456 |
Source: Ownwell